Oak Harbor Wealth Partners LLC Decreases Stake in Visa Inc. (NYSE:V)

Oak Harbor Wealth Partners LLC cut its position in Visa Inc. (NYSE:V) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,537 shares of the credit-card processor’s stock after selling 256 shares during the period. Visa accounts for 1.6% of Oak Harbor Wealth Partners LLC’s investment portfolio, making the stock its 16th largest holding. Oak Harbor Wealth Partners LLC’s holdings in Visa were worth $5,647,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Unionview LLC increased its stake in Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares in the last quarter. KMG Fiduciary Partners LLC increased its position in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares in the last quarter. Washington Trust Bank raised its stake in shares of Visa by 1.1% in the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after purchasing an additional 37 shares during the period. Finally, Proffitt & Goodson Inc. boosted its position in shares of Visa by 20.3% during the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock worth $60,000 after buying an additional 37 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Piper Sandler lifted their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Susquehanna raised their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Visa Price Performance

Shares of NYSE V opened at $308.27 on Friday. The stock has a market cap of $561.76 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $245.34 and a fifty-two week high of $312.44. The firm’s 50-day simple moving average is $285.84 and its 200 day simple moving average is $275.41.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.